Monero Lossing Momentum

Monero Lossing Momentum: Price Analysis

Right now the price of Monero is around $85.22. XMR is trading way above the trend line. Price is pushed back by the resistance at $99.86. The trend is clearly bullish in the near term. Bulls will try to push the price to the resistance at $99.86. Monero is clearly under the correction. Price can bounce back from $72.06. If the price crosses the resistance of $99.86 then price level of $115.17 can be seen. Globalexchange.

RSI is in the mid zone. Currently, RSI is at 43.29. Stochastic is also in the overbought zone. Ichimoku cloud is indicating a bullish trend in the market. Conversion Line is moving above the baseline. Global exchange. MACD is also showing momentum in the trend. But MACD is showing the loss in momentum of the trend.

Strategy

Globalexchange. Monero can touch the target of $99.86 again. After the correction. If the trend turns more bullish after correction with heavy volume then the price level of $115.17 can be seen. Before next swing, we can see a correction to the price level of $72.06. Price is in the bullish trend, so the price level of $99.86can be seen soon.

To take a position in this market wait for the correction to take place. In correction price level of $72.06 can be seen. globalxchange. We can take a position at $72.06. But there are more chances of correction to $72.06 in the near future.